+
Civil aviation gets Rs 31.13 bn allocation in Union Budget 2023
AVIATION & AIRPORTS

Civil aviation gets Rs 31.13 bn allocation in Union Budget 2023

The allocation for the civil aviation ministry in the Union Budget has more than halved to Rs 31.13 billion for the next financial year, especially due to a sharp reduction in the amount set aside for Air India Asset Holding. For 2022-23, the revised allocation is Rs 93.63 billion which is lower than Rs 106.67 billion estimated earlier.

The budget for 2023-24, presented by Finance Minister Nirmala Sitharaman on Wednesday, has allocated Rs 31.13 billion for the ministry. This includes Rs 30.26 billion from revenue and Rs 866.6 million from capital.

The sharp reduction is mainly on account of lower money set aside for AI Asset Holding (AIAHL), a special purpose vehicle formed by the government that holds various assets of national carrier Air India.

Tata Group took over the control of Air India in January last year following the government's disinvestment process.

In the latest Budget, Rs 11.14 billion has been allocated for AIAHL under the public sector undertakings segment of the minister. For 2022-23, AIAHL was initially allocated Rs 92.59 billion, which was later revised to Rs 72 billion. However, this allocation was under the 'central sector schemes/ projects'. On the other hand, the latest budget has hiked the amount for regional air connectivity to Rs 12.44 billion for the next financial year starting April 1.

The allocation for the Directorate General of Civil Aviation (DGCA) and the Bureau of Civil Aviation Security (BCAS) has been increased to Rs 737.4 million and Rs 3.09 billion, respectively.

In next financial year, Airports Authority of India (AAI) is to raise Rs 34.48 billion by way of Internal and Extra Budgetary Resources (IEBR). "Fifty additional airports, heliports, water aerodromes and advance landing grounds will be revived for improving regional air connectivity," Sitharaman said in her Budget speech.

Also Read
India to build electric-powered replicas of steam locomotives
J&K receives revenue worth Rs 35,581 cr for 2023-24

The allocation for the civil aviation ministry in the Union Budget has more than halved to Rs 31.13 billion for the next financial year, especially due to a sharp reduction in the amount set aside for Air India Asset Holding. For 2022-23, the revised allocation is Rs 93.63 billion which is lower than Rs 106.67 billion estimated earlier. The budget for 2023-24, presented by Finance Minister Nirmala Sitharaman on Wednesday, has allocated Rs 31.13 billion for the ministry. This includes Rs 30.26 billion from revenue and Rs 866.6 million from capital. The sharp reduction is mainly on account of lower money set aside for AI Asset Holding (AIAHL), a special purpose vehicle formed by the government that holds various assets of national carrier Air India. Tata Group took over the control of Air India in January last year following the government's disinvestment process. In the latest Budget, Rs 11.14 billion has been allocated for AIAHL under the public sector undertakings segment of the minister. For 2022-23, AIAHL was initially allocated Rs 92.59 billion, which was later revised to Rs 72 billion. However, this allocation was under the 'central sector schemes/ projects'. On the other hand, the latest budget has hiked the amount for regional air connectivity to Rs 12.44 billion for the next financial year starting April 1. The allocation for the Directorate General of Civil Aviation (DGCA) and the Bureau of Civil Aviation Security (BCAS) has been increased to Rs 737.4 million and Rs 3.09 billion, respectively. In next financial year, Airports Authority of India (AAI) is to raise Rs 34.48 billion by way of Internal and Extra Budgetary Resources (IEBR). Fifty additional airports, heliports, water aerodromes and advance landing grounds will be revived for improving regional air connectivity, Sitharaman said in her Budget speech. Also Read India to build electric-powered replicas of steam locomotives J&K receives revenue worth Rs 35,581 cr for 2023-24

Next Story
Real Estate

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Next Story
Real Estate

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Next Story
Real Estate

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?